The Importance of Inspections and Disclosure in Real Estate Lawhttp://elpilu.com/index.xml
Recent content on The Importance of Inspections and Disclosure in Real Estate LawHugo -- gohugo.ioenWed, 20 Jul 2016 08:03:12 +0000Tips on Keeping Your Office Carpets in Pristine Conditionhttp://elpilu.com/2016/07/20/tips-on-keeping-your-office-carpets-in-pristine-condition/
Wed, 20 Jul 2016 08:03:12 +0000http://elpilu.com/2016/07/20/tips-on-keeping-your-office-carpets-in-pristine-condition/<p>Carpets are a preferred flooring option in modern offices because they give a warm and inviting feel and can be used to create a professional look with their extensive color and fabric selections. In addition, carpeting can moderate the noise made when people are walking in heels and other noisy footwear. But that aside, carpets require professional cleaning because they can trap large volumes of dirt and show very little of it. To keep your carpets in mint condition for as long as possible, here are some things you can do in-between the visits a professional cleaner makes to your office.</p>
<p><strong>Vacuum frequently </strong></p>
<p>You need to vacuum your carpets as regularly you can. This is because the dirt on your floors builds up with every passing day, and waiting until a professional can come to your premises can cause your carpets to deteriorate prematurely. By reducing the amount of dirt that stays on your carpets, regular vacuuming minimizes the cumulative abrasive effect of dirt, which can penetrate deep into the fibers of carpets if left unattended. Make sure to acquire vacuum cleaners that suit your work environment. If your office is congested, consider using backup vacuums, which are easy to lift around in tight spaces, for example.</p>
<p><strong>Attend to spills on the spot</strong></p>
<p>Liquid spills are bound to occur on your carpets occasionally even if you have dished out instructions to discourage such happenings. You have clearly communicated that no beverages should be taken in the office place but a certain employee decides that he or she can take their coffee there while no one is watching them. When a spill occurs, it should be cleaned off immediately so that it does not turn into a stubborn stain. Therefore, it is important to provide employees with general carpet cleaning supplies like cleaning rags to help promptly clean up a spill.</p>
<p><strong>Place mats and rugs in areas with high-traffic</strong></p>
<p>It is one thing to have carpets that call for replacement due to normal aging or fading, but it is a big loss of investment to need new carpets because the existing ones are unevenly worn. This situation can arise when some parts of your carpets experience more foot traffic compared to others. Using mats in main entrances, in and outside interior doors, and below office desks can go a long way in ensuring that your carpets do not wear irregularly. Also, consider placing rugs on busy hallways.</p>
<p>For more information, contact professionals like <a href="http://skg.net.au" target="_blank">SKG Pty Ltd</a>.</p>
Top Four Reasons Pet Owners Need Security Screenshttp://elpilu.com/2016/07/07/top-four-reasons-pet-owners-need-security-screens/
Thu, 07 Jul 2016 11:54:42 +0000http://elpilu.com/2016/07/07/top-four-reasons-pet-owners-need-security-screens/<p>Security screens are a beneficial addition to the windows in a home for a range of reasons, but if you have a dog or cat, these screens can be especially helpful. Wondering how your pet may benefit from <a href="http://www.bondssecurity.com.au/promesh" target="_blank">security screens</a>? Take a look at these advantages:</p>
<p><strong>1. Protection from intruders</strong></p>
<p>Security screens are built to withstand intruders. They feature a metal mesh that cannot be bludgeoned or cut through in most cases. That means when you go to work for the day, you can leave the window open a crack to provide fresh air for your furry friend, but you don't have to worry about intruders coming in the house.</p>
<p>Although you can replace most of your possessions with a claim to your home insurance provider, if anything happens to your pet, it's absolutely irreplaceable.</p>
<p><strong>2. Safety from window escapes</strong></p>
<p>Just as security screens prevent intruders from getting in, they can also help prevent your pup or kitty from escaping the house. Imagine you have a cat who is in heat and eager to get out of the house to find love or a dog with separation anxiety who really wants to escape and find you. These creatures are likely to push against screens in an attempt to reach the great outdoors. However, security screens use a patented lock system that cannot be opened unless you are at home to release it. As a result, your pet should be safe and sound at home when you arrive back.</p>
<p><strong>3. Impervious to rips and scratches</strong></p>
<p>Even cats who aren't trying to escape like to hang out around windows. They love the breeze, and the view. Invariably, however, if a bird flies to close, your cat is likely to jump up on the screen to try to hunt the bird. As your cat's claws sink into the screen, and her weight pulls downward against her claws, your screen may suffer the damage.</p>
<p>However, while normal screens may rip or tear, security screens resist this threat. As a result, you don't have to worry about replacing your screen.</p>
<p><strong>4. High-quality for consistent performance</strong></p>
<p>Because of their unique design and quality materials, security screens resist all kinds of damage. As a result, you can look forward to consistent performance. With standard screens, they may tear or come loose from their frame, and then, bugs can get into your house.</p>
<p>If a <a href="http://www.vetwest.com.au/pet-library/heartworm-disease" rel="nofollow"><u>mosquito</u></a> gets in and gives your pet heartworm, for example, your dog or cat is likely to get ill. In addition to seeing your little one suffer, you're likely to incur a lot of unnecessary vet bills. Security screens help protect your pet from threats like that.</p>
Buying Rental Property as an Investment: Your Guidehttp://elpilu.com/2016/06/23/buying-rental-property-as-an-investment-your-guide/
Thu, 23 Jun 2016 15:42:22 +0000http://elpilu.com/2016/06/23/buying-rental-property-as-an-investment-your-guide/<p>Since the global financial crisis in 2008, investing your money by buying property and renting it out to earn a return has become an increasingly popular option. However, making such a large investment isn't something you should do without careful consideration. Below is a guide to things you should think about before investing in property.</p>
<p><strong>Carry Out a Risk Assessment</strong></p>
<p>Even with a mortgage, buying a property requires a large amount of capital. It is therefore vital that you carry out a proper risk assessment before committing to a deal. You should factor in the cost of the long term maintenance of the property and additional cost such as home insurance and any local tax you will be required to pay. You also need to be aware that as a long term investment, unlike traditional investment vehicles such as stocks and shares, your money will be locked in. If you need to access your money which is invested in stocks and shares, you can sell a portion of your investment, however you cannot sell a room of your property if you wish to access the money.</p>
<p><strong>Spread the Risk and Save</strong></p>
<p>Because you money will be locked in, when investing in buying rental property, you should consider spreading the risk. There are two ways you can do this. Firstly, you could split your investment between a rental property and traditional investments such as a managed fund. Secondly, if you already own a property, you could buy a second rental property in a different geographical location. This means that if property prices fall in your city there is a reasonable chance that your rental property will be unaffected and vice-versa.&nbsp;</p>
<p>Once you have invested in a rental property, you should save a proportion of the rental income you receive. This will help you to protect yourself during period when the property is vacant for an extended period or the rent paid is late.</p>
<p><strong>Property Investment Tips</strong></p>
<ul>
<li>Check the vacancy rate of other rental properties in the area before you buy the property to ensure you have a reasonable chance of renting out your property.&nbsp;</li>
</ul>
<ul>
<li>As a general rule the larger the property, the larger the refurbishment and maintenance cost.</li>
</ul>
<ul>
<li>Be aware that while you have made a long term investment in the property, your tenants are likely to have shorter term priorities.</li>
</ul>
<p>Before purchasing a second property as a rental investment, you should contact a professional <a href="http://www.waggare.com.au/agency/wagga-re/" target="_blank">real estate</a> agent.&nbsp;</p>
2 Important Documents To Get From The Previous Landlordhttp://elpilu.com/2016/05/31/2-important-documents-to-get-from-the-previous-landlord/
Tue, 31 May 2016 08:34:48 +0000http://elpilu.com/2016/05/31/2-important-documents-to-get-from-the-previous-landlord/<p>Prospective new landlords can get overwhelmed by the number of activities that need their attention when looking to invest in residential property. Examples of these activities include hiring a conveyancing solicitor, undertaking a pre-purchase building inspection and so on.</p>
<p>Thus, it is easy for a prospective landlord to overlook seemingly minor details such as proper documentation.&nbsp; This article discusses two important documents that one should ask for before asking for the titled deed from the person selling his or her (soon-to-be) previous home.</p>
<p><strong>An Energy Audit Report</strong></p>
<p>The energy audit report is an important document for prospective homeowners interested in moving into a more energy-efficient home.</p>
<p>Energy audit reports are prepared by professional electrical contractors after evaluating the condition of the house in relation to energy consumption. <strong>A typical report will information about</strong> how a house is losing energy and the exact point of energy loss (e.g. through the windows, attic etc.).</p>
<p>In crafting an audit report, electrical contractors will inspect the condition of electrical wires and electrical installations around the house, the condition of insulation used within the roof, thermal properties of indoor walls and so on.</p>
<p>Most importantly, the report will give recommendations on the kind of improvements that should be done so as to maximize energy efficiency around the residential premises.</p>
<p><strong>An Asbestos Register And An Asbestos Management Plan</strong></p>
<p>Asbestos is commonly found in a number of building materials (e.g. roof panels). Long-term exposure to asbestos fibres is known to cause various health complications. As such, a prospective landlord needs to ensure that they're moving into a "safe" house with respect to the presence of asbestos.</p>
<p>The law requires property owners to keep an updated asbestos register and an updated asbestos management plan for their property. An asbestos register contains information on the type(s) of asbestos occurring within the residential premises, the distribution of asbestos containing materials around and within the premises and the physical condition of these materials.</p>
<p>An asbestos management plan details the steps that have been taken and those that need to be taken to manage the risk posed by exposure to asbestos containing materials. &nbsp;</p>
<p>Asbestos registers and asbestos management plans must be updated regularly because the physical and structural condition of asbestos containing materials in a residential building keeps changing. &nbsp;</p>
<p>The information that can be obtained from an asbestos register and an <a href="http://www.asbestosaudit.com.au" target="_blank">asbestos management plan</a> will determine whether asbestos removal is necessary before the house is considered fit for occupation by its new owner(s).</p>
How to Use Home Staging to Increase Your Chance of a Salehttp://elpilu.com/2016/04/28/how-to-use-home-staging-to-increase-your-chance-of-a-sale/
Thu, 28 Apr 2016 09:46:27 +0000http://elpilu.com/2016/04/28/how-to-use-home-staging-to-increase-your-chance-of-a-sale/<p>If you're getting ready to put your <a href="http://www.donleyrealestate.com.au" target="_blank">home on the market</a>, no doubt you want to use every trick imaginable to entice potential buyers and get full asking price. This can be needed since many areas have more homes for sale than buyers, so you need to ensure your home stands out from the crowd. Home staging, or creating a look for your home specifically to appeal to buyers, can do just that. Note a few tips on how to use this for your home.</p>
<p><strong>1. Paint colors</strong></p>
<p>When a potential buyer sees your home, it's good if the walls are painted in a neutral color such as an off-white, light tan, or soft sage green. This is because it can be difficult for homebuyers to imagine their own choices in paint colors when the walls are a bright, bold color. For example, if they prefer blue for the bedroom, they might more easily imagine that blue if the walls are an off-white than if they were a bold red. Soften the paint colors in your rooms and choose very light, neutral earth tones, even if this isn't your preferred taste. Remember that you want to appeal to buyers, not to your own taste, when your home is on the market.</p>
<p><strong>2. Updated furniture</strong></p>
<p>If your home's furniture is old and worn, it can make the home seem outdated and drab even if it's in good shape itself. A technique some home stagers use is to rent furniture for an open house or showing; you can put your own furniture in storage or the basement while your home is being shown and use rented furniture to give any space an updated, appealing look.</p>
<p><strong>3. Give a room a purpose</strong></p>
<p>It may seem like an empty room is a good thing, as potential homebuyers can imagine it being used for any purpose. However, they may lack the imagination in order to picture certain furniture in an empty room, so that it then just seems cold and impersonal. It's good to give every room a purpose; if you have a home office you never use, rent a desk and chair and add a potted plant to stage the space. If you have a finished basement but it's empty, rent a faux TV front you can hang from the wall and put a couch in front of it. These simple touches will keep those spaces from seeming impersonal and outright wasted.</p>
Easy Tips for Improving Commercial Property Maintenancehttp://elpilu.com/2016/04/04/easy-tips-for-improving-commercial-property-maintenance/
Mon, 04 Apr 2016 10:41:01 +0000http://elpilu.com/2016/04/04/easy-tips-for-improving-commercial-property-maintenance/<p>Maintaining a commercial property can be one of the most expensive and time-consuming chores you will take on as a commercial property owner. This can be true of residential complexes, shopping centers, and offices, as well as production and manufacturing facilities. Note a few easy tips for making this maintenance easier on you and all your tenants or occupants so your property is always in good repair and safe for everyone.</p>
<p><strong>1. Increase the Rubbish Bins</strong></p>
<p>If tenants tend to put their rubbish outside their doors or otherwise allow it to stack up rather than putting it right in rubbish bins, consider increasing the number of bins you provide. This can make it easier for them to take their trash to the bin and will also ensure that bins aren't overflowing, increasing the risk of rats and other rodents and potentially resulting in fines from your city. You may also want to increase the types of bins you provide. For example, if furniture and large items tend to stack up, get a large bin meant for such oversized items. A separate bin for recyclable materials can encourage tenants to recycle and keep that rubbish out of your standard trash bin.</p>
<p><strong>2. Rotate Emphasis on Different Areas</strong></p>
<p>Every month or every quarter, you might rotate through areas of emphasis. This means concentrating on one area of the property that you will check from top to bottom, making small fixes as necessary, and updating or upgrading as well, along with your standard maintenance chores. For an apartment complex, this might mean one building that you check each month. For an office complex, you might concentrate on the basement storage area one month, then the mezzanine or lobby area the next month, then the public restrooms the month after, and so on. By rotating through areas of emphasis, each one will get specialized attention to ensure they're in good repair and nothing will be overlooked.</p>
<p><strong>3. Maximize Efficiency</strong></p>
<p>To improve your maintenance, maximize any and all steps you can take toward efficiency. For example, if washing the windows of your commercial storefront takes hours every week, consider applying a coating over the windows that more readily allows dirt and dust to fall away, keeping the windows cleaner. If pulling weeds for the landscaping features is tedious, consider putting down mulch or river rock or another material that chokes weeds before they can grow. Maximizing your efficiency for the tasks that are most time-consuming and yet easy to change can make maintenance of your property both faster and easier.</p>
<p>If you find you don't have the time to give your property the attention it deserves, consider hiring a <a href="http://www.roycecleaning.com.au" target="_blank">commercial property maintenance</a> service.</p>
3 Essential Tips For Moving Your Belongings During A Long-Distance Relocationhttp://elpilu.com/2016/03/15/3-essential-tips-for-moving-your-belongings-during-a-long-distance-relocation/
Tue, 15 Mar 2016 12:28:08 +0000http://elpilu.com/2016/03/15/3-essential-tips-for-moving-your-belongings-during-a-long-distance-relocation/<p>When moving long distance, whether you are going across the country or overseas, there are some things you must think about first. One of these things is how to deal with all your personal belongings. The following tips help you figure out the moving aspect, what to do about your personal effects and furniture, and deciding what to get rid of.</p>
<p><strong>Choose How to Move the Belongings</strong></p>
<p>When you are moving long-distance, you should first consider the best method for getting all your personal belongings and furniture moved. The distance you are moving, your budget, and whether you are going overseas all should be considered. If you are moving overseas, you will need to choose a way to have the items shipped. You can have them shipped via cargo containers or have them sent by air or even train. With cross-country moving, you have the option of hiring a moving company or driving the moving truck yourself. With long-distance moving, it is highly recommended that you hire a professional and drive separately in your own vehicle.</p>
<p><strong>Know the Building's Rules for Moving In</strong></p>
<p>It is also important to know what the building's rules are when moving in. When you are driving long-distance, the last thing you want to do is discover you can't move in until the following day or that you were supposed to reserve the elevator. Many buildings get busy with people going up and down the elevator during mornings and afternoons, so there might be stipulations about when you can move boxes and furniture in the elevators. You might only be able to move during certain days of the week as well. Call the building manager if you are moving into an apartment or condo building to find out for sure what the rules and regulations are.</p>
<p><strong>Consider Having Your Items Insured</strong></p>
<p>Whether you are going to have your items shipped by land, air, or sea, you want to have your items insured. While the shipping company will do their very best to ensure your items and shipping container arrives on time, there are some situations you might not be able to predict. If there are items lost during the move or you have some antique furniture that gets broken during transport, you want to at least have some financial protection. Moving insurance is an option with shipping items and if you are having a moving company handle the move for you.</p>
<p>Contact a moving company like&nbsp;<a href="http://www.pricesremovals.com.au/hobart" target="_blank" rel="nofollow">Price's Removals</a> for more information.</p>
Additional Costs You Should Factor In When Buying a Motel Using a Mortgagehttp://elpilu.com/2016/02/23/additional-costs-you-should-factor-in-when-buying-a-motel-using-a-mortgage/
Tue, 23 Feb 2016 13:34:40 +0000http://elpilu.com/2016/02/23/additional-costs-you-should-factor-in-when-buying-a-motel-using-a-mortgage/<p>If you are applying for a mortgage to buy a <a href="http://www.victoriainnforbes.com.au/" target="_blank" rel="nofollow">motel</a>, it is important to factor in all the associated costs. This will help you determine an accurate sum of money that you need from the lender. When buying a motel, a common mistake made by buyers is accounting for the price of the property alone. They forget about other charges associated with acquiring a business of such nature. You should be aware of other costs to determine whether you have money to cater for them, or include them in your mortgage application. Here are a few additional costs you will incur:</p>
<p><strong>The legal fees</strong></p>
<p>When applying for a mortgage, the lender agrees to loan you a certain amount of money to acquire property. The lender has a property charge over what you are acquiring, and you will own it exclusively once you have repaid the debt in full. Under these terms, both of you have a contractual obligation where you are required to repay the loan on the condition that the lender will grant you full ownership once the debt fully repaid. When making these contractual agreements, a legally recognized officer such as a commissioner of oaths has to oversee. Therefore, you will pay legal fees separate from the price of the property.</p>
<p><strong>The license fee</strong></p>
<p>Since you are buying the motel from another person, the local authorities will charge a fee for allowing you to take over the ownership of a motel that is already running. This is because they need to grant a new license to a person fit to own, run, or manage a motel based on considerations such as criminal records. In addition, licensing is also required if you are making any modification to the nature of the business.</p>
<p><strong>Valuation</strong></p>
<p>For purposes of taxation, the value of the motel must be established. This is because tax agencies must know of any property you own to determine the amount tax you should remit to the government every year. The cost of hiring a valuer is separate from the price of the property.</p>
<p><strong>Goodwill </strong></p>
<p>Business owners treat goodwill differently. Some sellers will automatically include it in the price of the property while others compute it and require you to pay for it separately. In brief, goodwill refers to the strategic advantage that a business has developed over the years. It could be a business or brand name, good location, or guaranteed customers. When selling a motel, some owners estimate the value of the strategic advantage and sell it to you separately.</p>
<p>You need to be ready to cater for all these additional costs to avoid delaying your operations.</p>
The Easiest 3-Step Decluttering Guide for Superfluous-Stuff-Stashershttp://elpilu.com/2016/01/29/the-easiest-3-step-decluttering-guide-for-superfluous-stuff-stashers/
Fri, 29 Jan 2016 16:11:11 +0000http://elpilu.com/2016/01/29/the-easiest-3-step-decluttering-guide-for-superfluous-stuff-stashers/<p>Are you getting ready to declutter your home? If so, you probably already know that research indicates that decluttering can help <a href="http://www.inaquandary.co.uk/decluttering-benefits.htm" rel="nofollow">eradicate stress, depression, and many other health issues</a>. Deciding to spring clean is the first step on your road to a healthy, happy, harmonious life. If you've always been a stasher of superfluous stuff you don't really need, congratulations on making the big start! The next step is a little more complicated -- what do you actually need to do to keep your home clutter-free, and how can you do it in as little time as possible? These three simple steps will have your home clear and calm in no time.</p>
<p><strong>Step 1: Make an Itinerary</strong></p>
<p>Planning and organisation go hand in hand. Grab a notepad (paper or PC) and decide which rooms you need to tackle, and what order you should tackle them in. Are you the kind of person who likes to ease your way into unfamiliar territory? If so, start with your least messy room and work your way up to the worst on your list. If you're the kind of person who finds it difficult to sustain momentum, why not try decluttering your messiest room first? If you can manage to get over the hardest hurdle, the rest will seem easy in comparison. Make sure you set yourself achievable goals - you don't have to clean the whole room in one go. Set aside a small amount of your free time each day and spend that time cleaning. If you struggle with motivation, snap a photo of your room at the end of every day. When you compare it to the previous day's photo, you'll get a boost out of seeing your progress.</p>
<p><strong>Step 2: Keep, Sell, Donate, Trash</strong></p>
<p>When you're faced with a room filled with junk, you can easily feel overwhelmed. Luckily, all you have to do is break things down into 4 categories: things to keep; things to sell; things to donate or give away; things to throw away. Get yourself some big boxes or refuse bags and work your way from one side of the room to the other systematically. Remember: all your need to do is put things in the boxes. It's that simple! But be brutal. If you haven't used that cupcake maker or candle holder since the first time you got it, it's probably not something you need to keep. If it's near new and in top quality condition, put it in the sell box. You can get top dollar for many homewares on online buy-and-sell markets. If it's usable but not worth selling, secondhand shops appreciate donations. The proceeds often go to charity, so even if you feel sad about decluttering, you'll feel good about yourself. Anything that's unusable should go straight in the bin. Only your most prized and valuable items should end up in the keep box and nothing more. Stick to this method and you'll be done in no time.</p>
<p><strong>Step 3: Store the Leftovers</strong></p>
<p>If you're usually a clutter-lover, chances are you'll struggle to part with most of your belongings. But that's okay -- as long as you have adequate storage. There are tons of storage options out there, but they fall into three major categories: furniture storage, container storage, and remote storage. Furniture storage is something you probably already have in your home: bookshelves, wardrobes and cupboards are all furnishings intended to store items. Container storage includes everything from plastic boxes to stacking baskets to kitchen racks. The best way to organise and stay clutter-free is to use a mixture of these two types. Sort your items based on type, functionality, colour -- whatever works for you. Use a container for each category, and then store these containers in your cabinets, closets and cupboards. Stylish wooden or patterned containers can be displayed out in the open on shelves. When there's a place for everything, it's easy to keep everything in its place.</p>
<p>Of course, there's only so much space in your home. If you have a lot of stuff that you can't bear to part with, you may need to use remote storage -- storage outside the home. While a garage is a prime example of remote storage, it's usually best to avoid keeping too much there. While your garage isn't part of your home directly, it is a functional room. The most cluttered it is, the more dysfunctional it becomes. An excellent alternative to garage storage is self-storage. Self-storage units offer a secure place to keep your belongings without ruining your home. Generally available in a range of sizes, these units are affordable, safe, and accessible whenever you need them. You can even use self-storage to temporarily stash away items you'll be selling and giving away.</p>
<p>For more information on self storage, contact a company like&nbsp;<a href="http://www.dawsonmoving.com.au/index.php/self-storage" target="_blank" rel="nofollow">Dawson Moving</a>.&nbsp;</p>
Why a Single Storey House May Be Better Than a Multi Storey Househttp://elpilu.com/2016/01/11/why-a-single-storey-house-may-be-better-than-a-multi-storey-house/
Mon, 11 Jan 2016 12:05:15 +0000http://elpilu.com/2016/01/11/why-a-single-storey-house-may-be-better-than-a-multi-storey-house/<p>Many people wonder whether they should build a single-storey home or a multi-storey home. This article discusses some of the reasons why it may be better to ask a <a href="http://regenthomes.com.au/new-home-designs/" target="_blank" rel="nofollow">new homebuilder</a>&nbsp;to construct a single-storey home for you.</p>
<p><strong>Less Noise</strong></p>
<p>Single-storey homes tend to be less noisy than multiple-storey homes. This is because there are no vibrations from footsteps of people walking on the upper floors. Additional soundproofing costs have to be met if you would like to dampen the sound of footsteps in a multi-storied. This can increase the cost of having that home built. Additionally, the designer of a single-storey home can place bedrooms at the furthest ends of the home so that the noise from the living room or kitchen does not affect someone sleeping.</p>
<p><strong>Easier Mobility</strong></p>
<p>A single-story building is also good for you if you live with an elderly family member. It is also good if you have a disabled family member, or if you have toddlers. This is because it will be easier for these vulnerable people to access different parts of the home without putting themselves at risk of falling. It is also a good idea to build a single-storey home if you plan to grow old in that home.</p>
<p><strong>Energy Efficiency</strong></p>
<p>A single-storey home may be more energy efficient when compared to a multi-storey home. For instance, it is easier to design it so that heat flows uniformly throughout the home. The warm air will rise and be ejected through the vents so that space can be created for cooler air to get into the home. It is harder to regulate the flow of heat in a multi-storied home because each floor constitutes an independent level that needs to be conditioned. Thus, more materials (such as AC ducts) are needed to ensure that energy efficiency is maintained in all levels of the home.</p>
<p><strong>More Privacy</strong></p>
<p>Single-storey homes may provide a greater measure of privacy. This is because you can install a high fence so that the home is completely screened from view. The home can also be shielded by trees and shrubs planted around it. It may be more difficult to achieve the same level of privacy if you have a multi-storied home.</p>
<p>Discuss all the issues above with a new homebuilder before you make a final decision about which house plan would be suitable for you. That discussion with the professional will enable you to make an informed decision.</p>
Property Management Inspection Methodshttp://elpilu.com/2016/01/04/property-management-inspection-methods/
Mon, 04 Jan 2016 08:44:46 +0000http://elpilu.com/2016/01/04/property-management-inspection-methods/<p>When you hire a service for <a href="http://www.rjacksonqld.com.au" target="_blank" rel="nofollow">body corporate management</a>, you are paying for a service that will essentially be your eyes and ears on your propert. This is why it is extremely important for them to create and stick to a strict schedule for regular inspections of your properties. There are many property owners who do not fully understand the amount of damage that can be caused by one bad tenant. There is the natural tendency for home owners to assume if the rent is being paid and there are no incoming complaints, all is well.&nbsp;</p>
<p>The fact is, these assumptions can wind up in huge amounts of damage, which with regular inspections could have been avoided. Any time you are seeking services of a property management company, ask the following questions to ensure that they will provide proper inspections for your properties on a regular basis.</p>
<ul>
<li>What type of inspections will be completed? Ideally, the inspections should be on a regular basis and document the event with digital photos. The report should also carry the signature of the tenant, as well as the property manager. Inspections should include looking at the interior and exterior of a home; inspecting issues with appliances, the plumbing and electric systems and noting any changes in the property.</li>
<li>How often are inspections done and are tenants notified beforehand? The inspector should have a checklist of items that they check each time they visit. You should not accept terms that management companies will only provide inspections in between tenants.</li>
<li>How will you be informed of the inspection results? You may want to consider asking for a sample report of the inspection that you will receive.</li>
<li>Is the cost of the inspection extra, or included in the basic service package? As a property owner, there is no question that costs can be high. Finding a management service that will include the inspection cost with other services, will minimize additional charges.</li>
</ul>
<p>Most property body corporate management services have a process in place that provides for quality inspections. However, asking these questions will ensure that your property is well looked after in your absence and you are being supplied with all of the services that were outlined in the contract. After all, if you don't ask about this, there will be no way to know for sure that all of your properties are being cared for properly and inspected regularly.</p>
Is Self-Managing a Rental Property a Good Idea?http://elpilu.com/2015/12/11/is-self-managing-a-rental-property-a-good-idea/
Fri, 11 Dec 2015 11:45:00 +0000http://elpilu.com/2015/12/11/is-self-managing-a-rental-property-a-good-idea/<p>Some <a href="http://onproperty.com.au/percentage-of-australians-own-property/" rel="nofollow">7.9%</a>&nbsp;of Australians own an investment property (which is just over 1.76 million people). A significant proportion of these properties are residential and are rented to tenants. Perhaps you're considering purchasing a property to rent, or already own one and manage it yourself. Is self-managing an investment property really the best way to go? There are both positive and negative aspects of doing the job yourself and you really need to consider if you want to commit to the necessary effort of property management or pay someone else to take care of it for you.</p>
<p><strong>Finding a Tenant</strong></p>
<p>Finding a tenant is not particularly difficult, but finding a good tenant often can be. You will need to advertise, check references, request an appropriate bond, and then hope for the best. Real estate agencies have specialist property management divisions like <a href="http://prdpenrithrealestate.com.au/your-property-management-team.php" target="_blank" rel="nofollow">PRDnationwide</a>&nbsp;and often already have a waiting list of tenants who might be interested. They also have access to the National Tenancy Database, which is a list of tenants who have previously been evicted or who have had had ongoing problems with paying their rent.</p>
<p><strong>Checking Financial History of a Potential Tenant</strong></p>
<p>The database also accesses a potential tenant's credit report, so that any financial problems can be identified. These problems are generally when a person has defaulted on a loan or other form of credit (such as a mortgage or a credit card). These default listings are <a href="https://www.moneysmart.gov.au/borrowing-and-credit/borrowing-basics/credit-reports#Check" rel="nofollow">visible</a> on a person's credit history for between five and seven years, depending on the severity of the default. A number of listed defaults can indicate ongoing financial difficulties, which might make it difficult for a potential tenant to pay their rent to you. You can apply to have access to this database even if you're not a real estate agent, but you will need to pay a hefty fee. This can be problematic if you only need to check it on an occasional basis (such as when assessing a potential tenant).</p>
<p><strong>Letting Fees</strong></p>
<p>A real estate agent will change you a small one-off fee when the property is successfully rented, which is of course not an issue if you source a tenant yourself. You will then pay a small ongoing proportion of the rent to the real estate agent for the duration of the rental. Again, this does not occur when you self-manage the rental. The ongoing proportion of the rent payable to the agent varies from company to company, and from state to state. You might be able to negotiate a fee with smaller agencies, but larger agencies generally have a non-negotiable set fee.</p>
<p><strong>Peace of Mind</strong></p>
<p>These ongoing fees are perhaps the primary reason why many people choose to self-manage. The good news is that these fees are tax deductible (as a business expense), although you don't see these funds again until it's tax refund time. You are paying for peace of mind in that if an issue was to arise, the real estate agent would deal with it. This is what those fees cover!</p>
<p><strong>Insurance</strong></p>
<p>While also tax deductible, a self-managed investment property requires landlord insurance. This covers damage to the property, and some policies even protect you from loss of rental income if the tenant was to stop paying for whatever reason. A self-managed property means you would need to pay for this insurance yourself, increasing your upfront costs. A real estate agent would already carry this insurance, which is covered in their ongoing fees.</p>
<p>It's entirely up to you as to whether you self-manage your investment property, but the benefits of using a real estate agent can quickly add up. Sometimes it's really not worth the headache to do it yourself.</p>
Securing your retirement with commercial property investmenthttp://elpilu.com/2015/11/24/securing-your-retirement-with-commercial-property-investment/
Tue, 24 Nov 2015 11:37:41 +0000http://elpilu.com/2015/11/24/securing-your-retirement-with-commercial-property-investment/<p>While residential property often captures the headlines of investment blogs, commercial real estate (renting to businesses rather than people) can be just as positive an investment. Here are reasons that commercial real estate can be a great investment to help fund your retirement.</p>
<p><strong>Better rental returns</strong></p>
<p>Commercial real estate has higher average rental returns compared to residential properties. Yields can range from<a href="http://www.switzer.com.au/the-experts/john-mcgrath-property-expert/residential-vs-commercial-property-investment/" rel="nofollow"> 5 to 10 percent</a>, and this can be an ideal way to maximise income during retirement. Also rental periods are often longer and can be negotiated on a <a href="http://www.investors.asn.au/education/property/commercial-property/" rel="nofollow">multi-year</a> basis, with built in rental increases each year. By reducing the vacancy rate, you have a higher overall rental yield as well as less stress as an investor!</p>
<p>The downside of commercial real estate is that it is more vulnerable to the general economic climate, and if your client goes out of business you may find other businesses also going out of business in the same area. For this reason, attracting high quality clients (such as government offices, or long term business with strong references) is very important. If you are not comfortable getting reviewing financials, getting some assistance from an experienced commercial real estate expert can be a good idea.&nbsp;</p>
<p><strong>Continued access to credit</strong></p>
<p>Banks are very comfortable with lending towards <a href="http://www.joyceproperty.com.au/2013/06/28/property-investment/" target="_blank" rel="nofollow">property investment</a>, albeit often at a higher <a href="http://propertyupdate.com.au/the-nuts-and-bolts-of-commercial-loans/" rel="nofollow">loan valuation ratio (LVR)&nbsp;</a>compared to residential loans. Being able to loan against the property means that you can enjoy the tax advantages of reducing your taxable income by the interest amount while you are still working, making it a great option for people with longer term retirement plans.</p>
<p><strong>Reduced outgoings</strong></p>
<p>The agreement for costs is slightly different for commercial properties. Many of the ongoing costs such as rates and water are covered by the commercial tenants. This needs to be weighed against the higher costs of maintenance, for instance the costs of painting large properties or annual commercial air conditioning servicing. As part of the sale you can request historical amounts for these costs to make a full assessment.</p>
<p>As you can see commercial real estate can be a valuable part of a retirement investment portfolio. Given the different dynamics of the commercial real estate market, you should spend sometime researching the best areas for your potential commercial real estate investment. Also, as commercial real estate agreements are often more complex than residential leases, you should get some professional advice from an experienced commercial real estate broker.</p>
Is a Discount Broker Right for You?http://elpilu.com/2015/11/12/is-a-discount-broker-right-for-you/
Thu, 12 Nov 2015 10:18:02 +0000http://elpilu.com/2015/11/12/is-a-discount-broker-right-for-you/<p>You may need the services of a real estate agent if you want to buy a property. The degree to which you require his or her services will depend on several factors (such as your experience in finding the best home for your needs). Under normal circumstances, a buyer's agent takes part in all steps of the process (such as searching for a home, negotiating the sale and helping you to get financing). However, you can also hire a discount agent so that you only pay for the specific services that you would like him or her to perform for you. This article discusses some pros and cons of opting for a discount broker.</p>
<p><strong>The Pros</strong></p>
<p><strong>You can make some monetary savings.</strong> Discount brokers can be an avenue for you to make some savings when you buy a home. For instance, you will only pay them for the specific tasks that they perform (such as helping you to negotiate the terms of purchasing the home you have selected). This approach may be more affordable than paying a lump sum that may include services that you do not need (you may already have financing, for example).</p>
<p><strong>You can develop your home-buying skills.</strong> The use of a discount buyer's agent gives you an opportunity to develop valuable skills that are required during the home-buying process. For instance, you will be able to learn how to source for financing on your own in case you choose to perform that task yourself. That skill will help you in future transactions since you will know the steps to take in order to secure funding for a home purchase.</p>
<p><strong>The Cons</strong></p>
<p><strong>You may take longer to conclude the purchase</strong>. Real estate agents have extensive knowledge about what needs to be done at every stage of the buying process. This enables them to speed the process so that it is concluded quickly. When you opt to hire a discount agent, you take on several tasks in the buying process. Some of those tasks may be more difficult than you had thought they would be. For instance, you may have thought that it would be easy for you to negotiate with the seller. However, the negotiation process may take long because you lack adequate legal knowledge to push for favourable terms. This prolongs the process as you keep raising new issues when the process is nearing conclusion.</p>
<p><strong>You may not save any money.</strong> Some jurisdictions include the agent's fee in the price paid for the home. Consequently, your decision to avoid using an agent fully will leave the commission to the agent of the seller. The savings can only be realised if each party to the transaction pays his or her agent directly.</p>
<p>As you can see, it may be better for you to engage a buyer's agent so that you have an experienced person to act on your behalf. His or her expertise will save you from incurring unnecessary costs arising from mistakes you make due to inexperience. Contact a local professional, such as one from&nbsp;<a href="http://www.auspropertyprofessionals.com.au/about-us/lloyd-edge-profile/" target="_blank" rel="nofollow">Aus Property Professionals</a>, for more information.&nbsp;</p>
Should You Hire A Property Manager For Your New Investment Property?http://elpilu.com/2015/11/04/should-you-hire-a-property-manager-for-your-new-investment-property/
Wed, 04 Nov 2015 17:01:39 +0000http://elpilu.com/2015/11/04/should-you-hire-a-property-manager-for-your-new-investment-property/<p>Buying a dwelling as an investment property is a popular financial choice for many Australians. Investment properties accounted for <a href="http://www.abs.gov.au/ausstats/abs@.nsf/mf/5609.0" rel="nofollow">over $13 million</a> in the total property market from July to August in 2015. If you've recently bought an investment property, then you are probably wondering whether to manage the property yourself or hire a professional property management company, such as <a href="http://www.verseproperty.com.au/for-rent/property-management" target="_blank" rel="nofollow">Verse Property Group</a>,&nbsp;to do it for you.</p>
<p>Managing your property yourself can save you a small amount of money each week, which may give you a slighter higher return on your investment. However, if you don't live near your investment property and need to travel for inspections or to meet new tenants, or the time required to manage the property will eat into your work hours, then this saving will probably be negligible. It may even end up costing you more than hiring a property manager. Here are some things to consider:</p>
<p><strong>What do you get for your money?</strong></p>
<p>Most property management companies will charge you a fixed percentage of the rental price for their services. Services may vary slightly from company to company, but there are standard services that every property management company will provide.</p>
<p><strong>They are responsible for rent</strong></p>
<p>Property managers will be responsible for setting a rental price that meets market expectations and also provides you with a suitable return for your investment. They will also be responsible for collecting the rent from the tenant on a weekly or fortnightly basis and passing it on to your chosen bank account.</p>
<p>If the tenants don't pay the rent on time, the property manager will be responsible for the legal process for resolving arrears and the application of late fees. They will also advise the tenants of any rent changes, which generally occur at the end of a lease period and reflect inflation rates and the changing rental market value.</p>
<p><strong>They are responsible for tenants</strong></p>
<p>Property managers will advertise your property and find suitable tenants. They are responsible for processing applications, checking references, background checks, criminal histories, and prior rental history. They have access to the national rental database to ensure that tenants have not defaulted on rent or damaged rental properties in the past.</p>
<p>Generally, property managers will process the applications and then pass on the details of suitable applicants for you to look over. You can then make the final choice from these applicants about who will rent your property.</p>
<p><strong>They are responsible for your property</strong></p>
<p>Before your property is tenanted, a property manager will complete a full entry report. This includes details of what is included in the property such as fittings, fixtures, appliances, and furniture. It also includes the conditions of all these things and should include photos. They will also complete an exit report at the end of a tenancy and make sure that any damage caused by tenants is paid for and repaired.</p>
<p>Property managers will also complete periodic inspections of the property to ensure the tenants are looking after it. They will also handle any maintenance or repairs that are requested by the tenants if they are required.</p>
<p>It's well worth hiring a property management company for your new investment. Not only will your property be well cared for, but you will also have a team of professionals who are well versed in rental property law who will ensure that both you and your tenants have your rights respected.</p>